Kill the bailout: Phones ringing off the hook; student loans, car debt added to proposal
We don’t have to have this trillion-dollar bailout shoved down our throats.
You can make a difference.
Phones are ringing off the hook. Peter Viles at L.A.Land:
A key quote in this morning’s Senate hearing about the Paulson bailout is worth repeating. This comes from Ohio Sen. Sherrod Brown, a Democrat:
“Like my colleagues, my phones have been ringing off the hook. The sentiment from Ohioans about this proposal is universally negative.”
Not “overwhelmingly negative.” Not “deeply suspicious.” Not “extremely upset.” Universally negative.
I’ll state the obvious: Members of Congress aren’t generally in the habit of passing historic and spectacularly unpopular legislation five weeks before election day.
Make your voice heard now. Every second counts: 202-224-3121.
***
Quotable: “‘Just because God created the world in seven days doesn’t mean we have to pass this bill in seven days,’ said Rep. Joe Barton, R-Texas.”
Or at all.
You might want to make a special effort to phone John McCain’s office. He’s waffling and wavering and straddling. Mr. Maverick needs a clue.
Update: Student loans, car loans, and credit card debt have been snuck into the bailout proposal No. No No. Hellllllll, no.
!!!!!!! (Hat tip: STACLU, Pursuing Holiness)
In the dark of night over the weekend when most people were snoozing, the Treasury dramatically expanded its bailout plan to include buying student loans, car loans, credit card debt and any other “troubled” assets held by banks.
The changes, which were included in draft language that also opened the bailout program to foreign banks with extensive loan operations in the United States, potentially added tens of billions of dollars to the cost of the program.
Although it was a major addition to what was already the nation’s largest-ever bailout, it did not become part of the debate between Democrats and the Treasury over details of the program. A Monday counterproposal by Senate Banking Committee Chairman Christopher J. Dodd included such consumer loans as well as mortgages, just as the Treasury’s draft did Saturday night.
“The costs of the bailout will be significantly higher than originally considered or acknowledged,” said Joshua Rosner, managing director of Graham Fisher & Co., who charged that the Treasury and Federal Reserve have not been “forthright” about the ultimate cost to the public. The plan gives Treasury the discretion to buy the non-mortgage loans and securities in consultation with the Fed.
Conservatives cited the move as a sign that the massive plan to take over bad mortgage debt already is opening the door to further government bailouts.
***
Get your GOP senator off the fence:
Many members of the U.S. Senate blasted the Bush administration’s Wall Street bailout plan Tuesday, but no senator has come forward so far with an explicit pledge to kill the $700 billion proposal.
The rules of the Senate, unlike the House , give individual lawmakers substantial power to delay or halt legislation, but three Senate aides said there were no clear signs yet of that power being exercised.
As the Senate Banking Committee held a hearing on the plan put forward by the Treasury Department, aides said much would depend on Alabama Sen. Richard Shelby, the committee’s top Republican, who was sharply critical at the hearing.
The outlook for Treasury’s plan would dim greatly if Shelby were to move to block the bill that is expected to emerge soon from congressional debate over the plan, the aides said.
The Democrat-controlled Congress and the Republican Bush administration are in negotiations over specifics of the bailout bill, with the House aiming to get legislation to a floor vote possibly Friday…
…Other senators, including Republicans Jim Bunning of Kentucky and Jim DeMint of South Carolina, have expressed strong concerns.
But the aides said these lawmakers also have stopped short of warning they would work to block the bill.
***
Previous:
Kill the bailout: Newt Gingrich gets on board
Kill the bailout: The foreign bank angle
Kill the bailout: Will the real fiscal conservatives please stand up?
Why Henry Paulson must be “contained”
The Mother of All Bailouts = The Death of Fiscal Conservatism
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Even Schumer is wary of this bail out. That says something right there man.
What is Newt’s plan? Is it something we can ask McCain to support? I don’t know the details of it and if it’s an alternative to the bailout.
It’s not the government’s money, it’s my money, and;
I SAY NO !!
To paraphrase an old chicago saying;
CALL EARLY – CALL OFTEN !
Oh geeeeeez.
http://www.stoptheaclu.com/archives/2008/09/23/student-car-debt-quietly-added-to-bailout-plan/
Why not add credit card debt and bar tabs while their at it?
Really strange bedfellows on this one.
Seems the far right and the far left are the ones that are absolutely opposed to any sort of bailout.
Oh it’s going to happen, the crapweasels are just fine tuning it before they go on recess Friday.
The idiots can’t miss recess.
and Dodd can kiss my a__.
HANG THE TRAITORS and those that support them.
It all started with the idea that everyone should own there own home. GW and the demoncrats decided to force the banks to make bad loans. Never mind that the app was not able to pay the loan, the real object was to get everyone into their own home. The rest of us will pay for it later.
LATER IS HERE!
Dave Ramsey has a great explanation on this debacle…and a plan to fix it without loading up our kids with a $700 billion debt.
http://www.daveramsey.com/tdrs/index.cfm/2008/9/23/Fix-the-bailout-with-mark-to-market?ictid=sptlt
“Change the mark to market rule found in Sarbannes / Oxley “
aj…while I admire the sentiment…are you REALLY sure that you want him that close to your nether regions?
sure , so I can hit him over the head with a bat.
Dodd?
I mean I understand being diametrically opposed to any bailout as a matter of principle. In fact, I am probably there, but why are you singling out Dodd, who at least is trying to get something back rather than just giving a blank check and no oversight of OUR money?
Dodd is definitely the much much lesser of many evils going on here.
chapoutier…you mean Dodd who was at the heart of this along with Barney Fwank?
On it first thing in the morning Michelle….CALL MCCAIN tell him NO Call his VP’s office in AK I will and tell her to tell him NO!!!!!
This my friends has all the hallmarks of the AMNESTY travesty…that would have cost this amount also….BRING IT ON!
I called. Patty Murray’s mail box is full. I guess I’m not the first one to call.
Maybe this will be a wakeup call about some other programs like Soc. Sec. and Medicare. Government can’t handle this kind of thing. It’s their job to put crooks in jail, not to underwrite corporations against losses or force them into those losses with nanny state programs that force them to do business with people who aren’t qualified.
How exactly? This problem started back around 2000, coincidentally with the internet boom when people thought you couldn’t help but make money hand over fist.
Long before Dodd and Frank were in charge.
Now I’m just getting really pissed. I can’t believe my wife and I have been so responsible that we will now be forced by our government to bail out those that acted without restraint.
THIS IS AN ACT OF TYRANNY.
The govt. should save NOBODY in this case with a bail out. Let the dead bury the dead. Just like immigration the only people paying for this is the ones playing by the rules.
If you play by the rules you’ll pay for those who don’t. What crap!
Wait a minute… hold on…
You mean to say… my taxes are going to bail out companies carrying the credit card debt… and I *still* have to pay my credit card debt too??? What the hell, Bro?!
Texas, I think he means the 6 million dollar Dodd.
My God what does an aneurysm feel like?
Ah, America, she was nice while she lasted.
Brought to you tonight from the Petro in Rochelle, Il. (Dear Lord, please get me out of Rochelle, Il.)
Let’s start with Chris Dodd voting for the Gramm-Leach-Bliley bank deregulation bill that 90/100 in the Senate voted for. Let’s move on to who was the Numero Uno recepient of ca$h from Freddie/Fannie…why that would be good old Chris Dodd. Let’s go back even farther when WJ Clinton, the First Black President, took Jimmy Carters starting point and forced banks to start loaning money to those who never would have qualified for a mortage until the idiot liberals who want to be All Things To All People forced the banks to do it. Down hill from there.
Hey, I’m calling Akaka, my waterbill is going in there.
Wow!
I ask again…
Does anyone know what Newt’s strategy is?
I.W.I.L.L.N.O.T.P.A.Y.T.A.X.E.S.
Hide it baby hide it.
I wonder if the next step is the Amero, and a North American Union in order to prop up a failed country. The United States of America.
“To compel a man to furnish contributions of money for the propagation of opinions which he disbelieves and abhors, is sinful and tyrannical.” –Thomas Jefferson: Bill for Religious Freedom, 1779. Papers 2:545
powerpro:
http://www.usnews.com/blogs/capital-commerce/2008/9/23/newt-gingrich-kill-the-paulson-plan-hard.html
and
http://newt.org/tabid/102/articleType/ArticleView/articleId/3729/Default.aspx
Amount of surprise that they’re adding everything but the kitchen sink to the bail-out: 0.00%
Okay…. and Dodd was the main force behind this how? How come you are not on Phil’s case instead of Dodd?
This is true, apparently from what I have seen, but you need to connect some dots on this one.
Come come now, more than just Bill and the libs wanted to expand mortgage lending, including some folks pretty close to McCain. And don’t tell me that these companies would have just gone along like meek sheep unless they thought there was profit to be made. And indeed there was for many years. But wait…what does this have to do with Dodd and his minority position in the Senate under Clinton? Were the Republicans back then powerless to stop Dodd from enforcing his will?
Leatherneck hits the nail on the head.
Hope y’all own some gold. Financial crisis to be followed by all out war on the Asian subcontinent.
Complete reshuffling of the cards and fewer chairs left around the table….Russia is history.
The one-term McCain will complete the running of the table in the Middle East and the opening of the oil spigots on the Caspian ($4 trillion payday)…to fuel the new N. American Union transition.
The United States may have failed its Founding Fathers vision—- but as an economic engine, it is about to morph. One word: Nano.
Pax Republicana to follow as the Dhimmicrats implode.
Bear1909 out.
Yep, you better hide it. If Odumbo gets into office, he’ll take at least 50% of it and give it to those who don’t want to work.
There’s only one team in Washington that matters:
G-L-O-B-A-L-I-S-T.
Leatherneck nailed it. North American Union here we come. Spread out the debt. Authorize a new fiat currency. Eliminate Iran, Russia, Venezuela, and Mexico from the oil business *permanently*. And open the spigots in the Caspian region.
Hope y’all own some gold.
Bear1909 out.
-
Newt Gingrich: Kill the Paulson Plan. Hard.
September 23, 2008 01:56 PM ET by James Pethokoukis
I just got back from a Newt Gingrich press conference where I had a nice back-and-forth dialogue with the former Speaker of the House about the Paulson Plan, which he totally hates. A few quotes and Gingrichian observations:
1) He called it a “stupid plan” that looks like it had been designed by autocrat Vladimir Putin. He also said it will be a “nightmare” to implement and full of corruption.
2) He said the Paulson Plan would be a “dead loser” on Election Day that will “break against anyone who votes for it.” It will hurt even worse with the 2010 election once Americans see what a drag it is on the economy when implemented.
3) He recently chatted with economic historian Alan Meltzer who advocated doing nothing rather than implanting the Paulson Plan. Meltzer apparently joked to Gingrich that this was about the third time he had seen Wall Street scream “the apocalypse was nigh” only to have the economy keep right on chugging along.
4) Gingrich thinks that if the Paulson Plan isn’t passed by this weekend, it is dead and the White House better have a Plan B, economic-growth package ready. Right now, he still thinks it has an 80 percent chance of passage, partly because of Paulson’s apocalyptic tone that if a bill isn’t passed, “the whole world will end on Tuesday.”
5) He advises McCain to play the maverick and come out against the Paulson Plan. Then it will be the Obama-Bush plan.
Thanks TexasEngineer.
I had seen the kill this hard one but all that did was highlight what a nightmare this bill is.
The other…I see some of the strategy in the interview, like getting rid of Sarbanes/Oxley etc…
But is there a place that has all of the idea listed out as a plan rather than in an interview format?
Free home mortgage, free college education, free auto loans, free credit cards…The American Dream…brought to you by the Dems.
I am not supporting anything that requires a judge to “rewrite” mortgage loans so deadbeats don’t lose their homes. It ain’t theirs if they can’t pay for it.
Where does it stop?
Unfortunately, I believe that you may be right.
Bailouts + additional, underhanded earmarks = wow, what a shocker = a great diversion from the energy situation. Cut it out, you little brats.
“Student loans, car loans, and credit card debt have been snuck into the bailout proposal”
WTF? What have those got to do with it?
Instead of student loans, I’ve borrowed money from family to cover university, and am now a lower senior. Are they going to pay that off?
What the HELL has student loans and car loans got to do with anything, this is not a socialist country (yet) – the ‘bailout’ is meant for one thing and one thing only, to reassign high risk mortgages off the banks books to stabilize them, and NOTHING ELSE.
I was for this ‘bailout’ by necessity, but not if all sorts of other cr@p is being tacked on to it – just forget it!
Student loans are NOT high-risk debt, no more than they have ever been. It is unrelated completely.
Sorry, these addons are bullsh*t, especially credit card debt! What the hell?? I just can’t believe that..
If that’s what they really are considering, then they should scrap it and just give all 300 million American citizens $2,500 each and leave it at that – and nothing to the friggin illegals!
hells bells ya might as well throw in breast implant loans also.
woah, what was that? oh, I think Atlas just shrugged.
The incentives to work and play by the rules are fading away. Does the government plan to forgive the credit card debt? The student loans (so glad I paid mine off)? Mortgages?
To what end does this lead? Should I go run up a bunch of debt buying stuff so the government – you- can pick up the tag?
This is a load of crap. At least the FBI is getting involved.
JAYYYSUS!!!!! Insane. Somebody wake me up!
Congress didn’t see fit to do anything to prevent this from happening and now the remedy is to throw money at the problem. What are these people smoking? Imagine my suprize to learn that those living beyond their means get bailed out along with math challenged bankers for stupid decisions and investments. How stupid I’ve been to pay my bills only to have to pick up the tab for those who haven’t, while congress thinks this is a good idea. FIRE THEM ALL!!!!
The S has officially hit the fan.
What the hell is happening to our country?
Hugh Hewitt was burbling that we HAD TO pass this bailout scam or else. Hugh, if you recall, was a big supporter of Harriet Miers and I posted on his page that he was wrong again:
Harriet Miers Redux
Hugh was 110% wrong about her and he’s wrong again. While I fear a total market meltdown, the side effect of this bailout will be to send a signal to every business in the country that stupidity, sloth, greed, and recklessness will result in no negative effects for kindly Uncle Sam will simply step in and socialize the losses onto the backs of the taxpayers.
Where in this grant of unchecked and unreviewable power for Sec. Paulson – what’s stopping him from transferring the whole $700 billion to his Cayman bank account since it’s unreviewable? – is a charge to punish the bozos responsible?
The government has no place in setting compensation for anyone not a government employee, but if we’re going to pick up the tab for this, an exception must be made all these fat cats need to forfeit ALL remunerations above minimum wage. When you fail as hard as these clowns, poverty for them and their families is a good start at comeuppance.
Too bad the Stupid Party doesn’t have a conservative candidate in the game this year who could run against the feckless Dems and Repubs who stumbled into this mess. Instead we have poor ol’ Juan McAmnesty, who would fire Chris Cox and install Andrew Cuomo (who is partially to blame for this scandal) in the catbird seat. He foresaw this scandal and when the time comes he could capitalize, he’s gonna blow it and remind us why we were fitted for nose plugs in the first place.
watch out for dead of night shamesty attached to this rushed through unread bill of injustice and fraud….
The telephone company is going to explode tomorrow… it’s official the feces has hit the air conditioner.
If this is confined to at-risk mortgages ONLY, and the idiots who took out these mortgages still have to pay them off, but at a fixed rate to what they initially agreed to, then ok. If all this other unrelated cr@p is added on, I will never again in my life lift a finger to do anything for this country EVER, and I will use every loophole and do everything I legally can to retain every single cent of what I earn. Wow I can’t believe I was actually supporting this before now. What an idiot I was – I should’ve known better; politicians can NEVER be trusted, not one single slimy corrupt bottom-feeding one of them. Not ever.
Oh man, that’s classic. Love it!
On a more serious note, there is NO WAY I want my tax dollars going to some idiot’s car payments, or their credit card debt. You have GOT to be kidding.
Bad enough I support all the illegals in this wonderful (not) state of CA.
If McCain asks Sarah Palin for her opinion about this mess, I would LOVE to be the mouse in the corner and hear her response.
He’ll need asbestos.
It’s time for torches and pitchforks!
The people who refused to live within their means and the people who fed them their habit should pay. Not me.
If a debtor can prove fraud then help them out. If they were stupid, well in a free society you take responsibility for your actions.
Where I live real estate appreciated resonably. No mrotgage crisis here at all. Gee, it’s odd how moderation seems to always work.
There might even be a run on gun shops the next few days. This is going to get real ugly, real fast. Sheeeeesh!!!!
I am calling tonight… many times. That poor little night operator will have a tale to tell in the morning.
Then I’ll call some more.
nyc123me – Have they ever passed a simple one-purpose bill… ever?
They don’t need a bail-out bill to change the rates to fixed, affordable ones!
Politicians make me sick… scum. Pure scum.
I feel like I’ve been stabbed in the face. I’m so embarrassed I was supporting this before now. Sorry guys.
Most of these losers aren’t worth the cost of the ammunition. Now Bloodhound’s solution of pitchforks and torches is a cost effective approach.
NOW you show up? After ignoring all the crap your heroes have been chucking the last few weeks, now you show up to defend the Democrats? Maybe you’d better do a little boning up on this whole subprime mess before you shoot off any more e-mails. And start with who has been getting the most campaign contributions from Fannie Mae.
I sent e-mails to my congresspersons telling them that if they voted for the bailout, I’d never vote for them again.
I didn’t tell them that I had never voted for either of them.
Abercrombie and Hirono? They’ll drink the Kool-Aid and vote for it.
Now, where’s my album of National Lampoon’s Lemmings? Time to listen to it all over again.
This is totally ridiculous! I scrape by to pay my mortgage, my household bills, and for what? So I can pay someone else’s too? That’s a load of crap!
I heard someone say that one way to combat this without a bailout is to eliminate capital gains tax for a time. I’m not that savvy on wall street so I don’t know how much that would help, but I damn sure know that I should NOT be paying for anyone else. If you bought something that you can’t pay for, then you should not have it, that’s the bottom line!
Ummm, there’s a new article in the NYT’s tonight…
McCain Aide’s Firm Was Paid by Freddie Mac
If it’s not one thing, it’s another.
Might as well avoid the pain of a long drawn-out submersion into disaster and just vote Obama and get it over with.
Actually, eliminating capital gains tax would be great, and it’s something many Republicans have been wanting to do for a while.
Right now the rate is 15% and 0% for the lowest two income tax brackets (this is for 2008, 2009 and 2010). However, this is going to expire after 2010. This is for assets held for more than a year. If it’s less than a year, then you’re still taxed at the ordinary income tax bracket/rate that you’re in.
If this isn’t renewed, the rates will go back to what they were prior to 2003, which was 20%, and then 18% if held for 5 years.
Complicated and there are a few other factoids, but these are the basics.
Now, imagine if we were allowed to invest with 0% capital gains. Just THINK of what that could do for the economy, not to mention wealth building in this country.
However, unfortunately, the Democrats have no grasp of economics or business, so they think that anytime you cut taxes, you’re giving to the wealthy.
WRONG. So, don’t expect anyone from that side of the aisle to go for this because they are clueless.
That would be out of the frying pan and into the fire.
We’ll see if McCain has the fire in the belly to win this election. LMAO.
Sounds compelling, but Article II of the Code of Conduct applies here so….sorry.
I want added to the bail out list. Over the years I have made numerous “non-performing” loans to ex-friends and family.
lonewolf
I am ready for a taxpayer revolution or revolt or whatever I mean. This is absolute stupidity !!!!!
If I thought I wouldn’t go to jail I’d quit paying taxes. However, since I’m a law abiding responsible person, I’d end up in the slammer.
So this is what happens when we vote for “the lesser of two evils”, right?
By the way, for those in IL: Dick Durbin is up for reelection: http://www.moveondickdurbin.org
http://www.sauerberg2008.com/index.aspx
DITTO DITTO DITTO FROM ME TOO !!!!!
My fingers are worn to the bone e-mailing my rep and anybody who will listen. But since Dick Durbin and Barak Obama are my senators, I doubt they can hear me.
On September 24th, 2008 at 12:42 am, Send_Me said:
John Forbes Kerry is also running for re-election. He might be savvy enough to vote against the bailout.
Hey – does this mean I should just wait to pay my credit card bill and let all of you people pay it for me through the bail out?!?!
Hey, let me save you the middleman Congressional fees – just send all “donations” to a paypal account: YoBroPayMyCreditCardBill@nyahnyahnyah.org.
If you make your donations to PayMyCreditCardBill@nyahnyahnyah.org, you will NOT get a tax deduction, but you WILL feel better because your “donations” will go to a fellow Republican rather than a suckin’-off-the-public-teat-Democrat.
/Snarky Humor off
I always thought that the purpose of taxation was to provide the government with enough funds to be able to carry out its constitutional functions. Once the code is played around with to favor special interest groups or advance socioeconomic policies that have nothing to do with the original purpose of taxation, the tax laws become unfair and inequitable. Suppose that instead of capital gain rates for favored transactions, these transactions were taxed at ordinary rates and Congress made up the difference to the favored taxpayers by sending them subsidy checks. Wouldn’t the public be screaming about earmarks and pork?
Add my name to this NO BAIL-OUT DECLARATION!!
President Bush, if you want to spread democracy listen to the people!
I have a car payment; student loans, too. Where do I send my bills?
How much more of my money?! Screw the people who made bad loans and those financial firms. I am with Mark Levin in wanting to see Dodd, Obama, Schumer, Frank and whoever else is involved in this mess and turned a blind eye as well as committ unscrupulous acts, in orange jumpsuits.
There are hard working Americans that are responsible and know what they can afford. Now the government will take more of their money and cause them financial suffering. Is that fair?!
We all knew this would happen- there is precedent:
Joesph told Pharaoh of the coming famine and had all the people bring 1/7 of their crops to Pharaoh’s storehouses. When the famine came the farmers had to trade their land to Pharaoh for a portion of their own grain. They bought themselves into slavery.
There is Nothing New Under the Sun.
You’re f’in kidding me. If they pass this bailout, I give up and I may just have to start looking for a new country to reside in. Australia or New Zealand sounds nice.
.|. .|.
I’m going to tell my kids and my grandkids to do whatever they please from now on. Screw savings, screw budgets, screw fiscal accountability, screw credit scores, screw it all.
I’ve never taken a dime of government handouts, including unemployment, except for a military disability pension (that I voluntarily gave up).
I think it may be time to become one of those stoner hippie dudes, because everything I worked my entire life for is about to get flushed.
F’in A
When in doubt, ask Dave Ramsey
Interesting idea he has here.
Some thoughts from some guys at Wharton
Not sure if you need to log in.
Its starting to make sense as to why they want this bailout passed SO FAST without the American people’s review and acceptance. (This isn’t national security or patriotism anymore)
Let everyone and everything fail based their own merits. We’ll pick up and carry on from whats left in the rubble. After we clean house and suffer through a few years ~maybe~ in 70 years our kids will be considered the (2nd) Greatest Generation.
All these super-smart guys got us into this mess – its time to start lining them up in the streets.
Another reason to take “can do and have done” over “I could if I wanted to”.
Australia and New Zealand are far more to the Left than we are and still going that way. Remember our forefathers at Valley Forge and Concord Bridge-the Cow Pens and Kings Mountain.
Wise people our Founders and forefathers.
Renew, refresh and remember–it is yours
Right, but its like differing management styles – micromanagers are on top of everything, but they annoy everyone and work themselves to a frazzle. I’m getting too old (codeword for lazy?) to tell everyone “Nevermind, I’ll just do it myself.”
I don’t want to go back to school for finance or politics and have to pay my dues all over once again.
!@#$!@#$!@#$@#!$! but “I could if I wanted to”….
True, true, true. lol, Thanks
(was just ranting to the moon there for a while…)
You wouldn’t happen to remember an SNL skit from back in the late 70′s? It was Dan Akroyd portraying Jimmy Carter who was on a radio call-in show. One of the callers was a guy freaking out on acid, and ‘Jimmy’ stepped in and talked the kid down.
#14 Republican (by default)…
You tried to call Patty Murray’s office…never have been impressed with either her or Maria Cantwell (remind me too much of Babs Boxer and Diane F. down in CA).
I’d go after any CEO/COO/CFO that used “creative” accounting practices or “cooked the books” for personal gain or allowed their company to go under due to gross financial mismanagement…that would include jail time and financial reimbursement to stockholders or depositors. No more “golden parachutes” for departing execs…
As for members of Congress – maybe it’s time for a wholesale “flushing of the toilet” in DC, and electing people who are for true change in DC (not the O’s Hopey/Changey BS). Too many in DC have gotten comfortable with their jobs and don’t give a damn about us out here in “real America”. Ronald Reagan once said that the words that ordinary Americans fear the most were “I’m from the government and I’m here to help”…
It’d time for a Second American Revolution…against the technocrats that are running our county into the ground…
So all I had to do was wait a year and a half instead of refinancing my student loans and the government would have paid it off for me? Oh hell no.
Anyone know what’s up with the jet fighter that’s been doing circuits over Manhattan / Brooklyn this morning? Woke me up about 6am – not an easy achievement I might add.
So, not only am I being boned for idiotically paying my mortgage on time, I am also going to get boned for repaying my car loans, student loans and credit cards on time? And the people who just borrowed more than they could afford get to walk away scot-free? How the hell does that work?
Bankruptcy is now a class action affair.
Anybody else besides me think that if the government can spend 1 trillion to bail out these companies that they are overtaxing us? Instead of giving a trillion dollars to quasi-government companies give it back to the people it was stolen from.
I will be calling our RINO and Democrap representatives today, for sure.
By the way, great column Michelle, “Illegal Immigration and the Mortgage Mess” it’s at townhall right now, but I’m sure it will be posted here shortly.
nyc, prolly the escort for the Achmanutjobs plane the he!! outa here.
This government and its incompetent, self serving, brain dead politicians is absolutely useless. Trust and faith in the government is gone . . . watch for the flame out because we’re about ready to crash and burn.
I’m a long time conservative Republican, but on this one I think Michelle is Way Off Base. In fact she’s making me very angry.
I listened to most of the Senate hearing yesterday. I have a lot more confidence in Ben and Hank than I have in all those dim wit senators put together. After all Ben spend his whole professional career studying the depression, what caused it,and what mistakes were made.
The media is doing the country a great disservice in the way they are reporting this crisis. In the end, the taxpayer will NOT be out for $700B. It will be a lot less if managed correctly. Please study the history of the previous rescues and the Chrysler loan.
The primary blame for this mess rests with Congress. They pushed the financial community to make home ownership “affordable” for lower income people who in more sane time could not qualify for a 15/30 year fixed mortgage with 10 percent down. Congress also caused this mess by participating in the mismanagement of the two GSEs.
It’s time for the public to wake up and get behind this financial plan. Yes, there should be over sight and yes people on Wall Street who crested fraud should be prosecuted.
Come on Michelle, get out of your ideological skin and lets move forward.
Michelle, what is your plans??????
No money for people who refuse to work and pay their debts.
And the borders would be secure, if they were managed correctly.
I wonder if I can get some kind of refund on my paid student loans? Yep, I actually paid them back. What a concept.
I’d love to find some of these people who are in default and find out why they “can’t” pay their loans back. Maybe that degree in cultural anthropology wasn’t such a good idea after all. Idiots. We could get John Stossel to investigate. I’m sure he would find that a majority of them are choosing not to pay them back.
I went to the bank and got a comment about the bank whose name was on the check. And so it begins.